EURUSD
The Euro remains under pressure in the near-term and accelerates lower after completing near-term consolidation above 1.0711, yesterday’s low. Near-term studies are losing traction and extension below1.07 breakpoint zone, reinforced by daily 10SMA / Tenkan-sen line, opens fresh weakness towards next significant supports at 1.0644/22, Fibonacci 61.8% retracement of 1.0519/1.0847 upleg / 16 Apr trough. Bearish Engulfing pattern that was formed on yesterday’s negative close, as well as daily close below daily 1.07 handle, support negative scenario. Former breakpoint at 1.07, now marks initial barrier, ahead of session high at 1.0748 and daily Kijun-sen at 1.0785, break of which to neutralize downside risk.
Res: 1.0700; 1.0748; 1.0767; 1.0800
Sup: 1.0658; 1.0644; 1.0622; 1.0600
GBPUSD
Cable is at the back foot and extends reversal after failure to hold gains above pivotal 1.50 barrier. Fresh weakness cracked daily Kijun-sen line at 1.4862, aiming towards pivotal support at 1.4830, sideways-moving daily 20SMA. Yesterday’s close in red and daily stochastic reversing from overbought territory, support the notion, with close below daily 20SMA, required to confirm and expose 1.48, round-figure support and 1.4750, Fibonacci 61.8% retracement of 1.4563/1.5051 upleg. Session high at 1.4910 marks initial resistance, ahead of yesterday’s high at 1.4982, regain of which to return near-term focus towards pivotal 1.5000/51 barriers.
Res: 1.4910; 1.4982; 1.5008; 1.5051
Sup: 1.4854; 1.4830; 1.4800; 1.4750
USDJPY
Near-term studies are regaining bullish momentum after bouncing from yesterday’s low at 118.52, where descend towards key 118.31 support found temporary support. Yesterday’s positive close and today’s fresh strength above 119.5967, daily 20SMA / Tenkan-sen line / 50% retracement of 120.83/118.52, sidelines immediate downside risk, with sustain break here to trigger further acceleration towards next trigger at 120.00. Negative tone still dominates on daily studies and regain of 120 handle is required to confirm near-term bottom and expose the upper boundary of 118.31/120.83 range.
Res: 119.78; 120.00; 120.28; 120.72
Sup: 119.42; 119.12; 118.95; 118.52
AUDUSD
The pair comes under pressure, following yesterday’s upside rejection that left hourly lower platform at 0.7825, with fresh acceleration lower, ending day in long red candle. Today’s fresh weakness and price action established below daily cloud base and cracked daily 20SMA at 0.7683. Close below daily 20SMA and extension below 0.7663, Fibonacci 61.8% retracement of 0.7553/0.7841, to confirm negative near-term stance and signal possible return to 0.7553, 14 Apr higher low. Daily Kijun-sen line reinforces initial barrier and session high at 0.7726, ahead of 0.7757, former consolidation floor and 0.7770, Fibonacci 61.8% of 0.7825/0.7681, regain of which to sideline downside pressure.
Res: 0.7726; 0.7757; 0.7770; 0.7825
Sup: 0.7681; 0.7663; 0.7621; 0.7570
The Euro remains under pressure in the near-term and accelerates lower after completing near-term consolidation above 1.0711, yesterday’s low. Near-term studies are losing traction and extension below1.07 breakpoint zone, reinforced by daily 10SMA / Tenkan-sen line, opens fresh weakness towards next significant supports at 1.0644/22, Fibonacci 61.8% retracement of 1.0519/1.0847 upleg / 16 Apr trough. Bearish Engulfing pattern that was formed on yesterday’s negative close, as well as daily close below daily 1.07 handle, support negative scenario. Former breakpoint at 1.07, now marks initial barrier, ahead of session high at 1.0748 and daily Kijun-sen at 1.0785, break of which to neutralize downside risk.
Res: 1.0700; 1.0748; 1.0767; 1.0800
Sup: 1.0658; 1.0644; 1.0622; 1.0600
GBPUSD
Cable is at the back foot and extends reversal after failure to hold gains above pivotal 1.50 barrier. Fresh weakness cracked daily Kijun-sen line at 1.4862, aiming towards pivotal support at 1.4830, sideways-moving daily 20SMA. Yesterday’s close in red and daily stochastic reversing from overbought territory, support the notion, with close below daily 20SMA, required to confirm and expose 1.48, round-figure support and 1.4750, Fibonacci 61.8% retracement of 1.4563/1.5051 upleg. Session high at 1.4910 marks initial resistance, ahead of yesterday’s high at 1.4982, regain of which to return near-term focus towards pivotal 1.5000/51 barriers.
Res: 1.4910; 1.4982; 1.5008; 1.5051
Sup: 1.4854; 1.4830; 1.4800; 1.4750
USDJPY
Near-term studies are regaining bullish momentum after bouncing from yesterday’s low at 118.52, where descend towards key 118.31 support found temporary support. Yesterday’s positive close and today’s fresh strength above 119.5967, daily 20SMA / Tenkan-sen line / 50% retracement of 120.83/118.52, sidelines immediate downside risk, with sustain break here to trigger further acceleration towards next trigger at 120.00. Negative tone still dominates on daily studies and regain of 120 handle is required to confirm near-term bottom and expose the upper boundary of 118.31/120.83 range.
Res: 119.78; 120.00; 120.28; 120.72
Sup: 119.42; 119.12; 118.95; 118.52
AUDUSD
The pair comes under pressure, following yesterday’s upside rejection that left hourly lower platform at 0.7825, with fresh acceleration lower, ending day in long red candle. Today’s fresh weakness and price action established below daily cloud base and cracked daily 20SMA at 0.7683. Close below daily 20SMA and extension below 0.7663, Fibonacci 61.8% retracement of 0.7553/0.7841, to confirm negative near-term stance and signal possible return to 0.7553, 14 Apr higher low. Daily Kijun-sen line reinforces initial barrier and session high at 0.7726, ahead of 0.7757, former consolidation floor and 0.7770, Fibonacci 61.8% of 0.7825/0.7681, regain of which to sideline downside pressure.
Res: 0.7726; 0.7757; 0.7770; 0.7825
Sup: 0.7681; 0.7663; 0.7621; 0.7570
Recommended Content
Editors’ Picks
EUR/USD stays weak near 1.0700 ahead of key EU inflation, GDP data
EUR/USD is keeping the red near 1.0700, undermined by a broad US Dollar rebound and a mixed market mood early Tuesday. Germany's Retail Sales rebound fail to impress the Euro ahead of key Eurozone inflation and GDP data releases.
GBP/USD remains pressured toward 1.2500 on US Dollar rebound
GBP/USD is extending losses toward 1.2500 in European trading on Tuesday. A cautious risk tone and a decent US Dollar comeback weigh negatively on the pair. The focus now shifts to mid-tier US data amid a data-light UK docket.
Gold price remains depressed near $2,320 amid stronger USD, ahead of US macro data
Gold price (XAU/USD) remains depressed heading into the European session on Tuesday and is currently placed near the lower end of its daily range, just above the $2,320 level.
BNB price risks a 10% drop as Binance founder and ex-CEO Changpeng Zhao eyes Tuesday sentencing
Binance Coin price is dumping, with the one-day chart showing a defined downtrend. While the broader market continues to bleed, things could get worse for BNB price ahead of Binance executive Changpeng Zhao sentencing on Tuesday, April 30.
Data fuels China optimism
China's factory activity has expanded for a second consecutive month, marking the best streak in over a year and fueling optimism for the sustainability of the world's second-largest economy's recovery.